Dear all,
this Chart tries to show the interaction between Oil Price WTI & Chevron.
As you all know, Mr. Warren Buffett invested lot of money during last two years in this company.
As you also know, CVX sells also gaz, not only oil, and for shure - gaz still very high, but NOT on Top.
CVX only is near to top.
Then: Look at the indicators. Negative Divergence all over all, OBV not amazing(bad).
So, several reasons for one conclusion.
In my option CVX is overvalued by 25% during the next monthes
let me know YOUR opinion!
Regards, Dan 19.11.22
this Chart tries to show the interaction between Oil Price WTI & Chevron.
As you all know, Mr. Warren Buffett invested lot of money during last two years in this company.
As you also know, CVX sells also gaz, not only oil, and for shure - gaz still very high, but NOT on Top.
CVX only is near to top.
Then: Look at the indicators. Negative Divergence all over all, OBV not amazing(bad).
So, several reasons for one conclusion.
In my option CVX is overvalued by 25% during the next monthes
let me know YOUR opinion!
Regards, Dan 19.11.22
Note
Diamond head ahead. First target see chartNote
Diamond head - leavedTargets see chart - green area
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.